U.S. Sen. Mitt Romney (R-UT) on Sept. 15 reintroduced a bill that would allow new parents to voluntarily use some of their Social Security for paid parental leave, according to the lawmaker’s office.
Sen. Romney reintroduced the New Parents Act with U.S. Sen. Marco Rubio (R-FL) to create the voluntary option that could be used after the birth or adoption of a child, according to a bill summary provided by the lawmakers, who originally introduced the bill in 2019.
“We are reintroducing the New Parents Act in order to give parents the flexibility to take time off from work with pay during the first weeks of their children’s lives, without growing our national debt, raising taxes, or creating a new entitlement program,” Sen. Romney said.
Additionally, the bill would allow parents to combine their leaves, or transfer them to one parent, the summary says.
“American families are facing greater financial strain, worsened by the COVID-19 pandemic, and marriage and birth rates are at an all-time low,” said Sen. Romney. “In Utah, and throughout the United States, a majority of working parents do not get paid when they take time off from work after the birth or adoption of a child, which can mean depleted savings, credit card debt, and student loan defaults.”
According to the bill summary, parents who take the option could choose a Social Security benefit of one, two, or three months to finance parental leave. The benefit amount is large enough that nearly all parents below the median household income of about $60,000 would be able to take leave at a rate of two-thirds of their prior wages. Many parents, especially those with low incomes, would be able to finance longer than three months of leave with the benefit, the summary says.